
\begin{tabular}{l c c c c c c}
\toprule
 & \multicolumn{6}{c}{Risk Reversals (pct)} \\
\cmidrule(lr){2-7}
 & (1) & (2) & (3) & (4) & (5) & (6) \\
\midrule
USD NIIP / GDP            & $0.76$        & $1.19^{***}$ &               &               &               &              \\
                          & $(0.56)$      & $(0.32)$     &               &               &               &              \\
USD Debt Holdings / GDP   &               &              & $2.30^{**}$   & $2.50^{**}$   &               &              \\
                          &               &              & $(1.00)$      & $(0.97)$      &               &              \\
USD Equity Holdings / GDP &               &              &               &               & $-1.58$       & $-1.21$      \\
                          &               &              &               &               & $(1.45)$      & $(2.01)$     \\
FX Vol.                   & $-0.15^{***}$ & $-0.26^{*}$  & $-0.15^{***}$ & $-0.28^{***}$ & $-0.23^{***}$ & $-0.39^{**}$ \\
                          & $(0.05)$      & $(0.15)$     & $(0.05)$      & $(0.09)$      & $(0.05)$      & $(0.18)$     \\
\midrule
Fixed Effects             &               & Month        &               & Month         &               & Month        \\
Num. obs.                 & $2363$        & $2363$       & $2363$        & $2363$        & $2363$        & $2363$       \\
R$^2$ (full model)        & $0.15$        & $0.50$       & $0.27$        & $0.60$        & $0.15$        & $0.45$       \\
R$^2$ (proj model)        & $0.15$        & $0.26$       & $0.27$        & $0.42$        & $0.15$        & $0.19$       \\
\bottomrule
\end{tabular}
